Revolut Unveils EURR Stablecoin Amid Euro-Pegged Token Rollout

Revolut has launched its euro stablecoin EURR in a soft launch phase. The token, which is pegged to the euro and fully collateralized by cash reserves, currently has a market cap of $290,000. This is a small fraction of the total user base of over 80 million retail customers Revolut serves.

The rollout started with select customers in Denmark, Poland, and Portugal around August 20, with a phased expansion beginning on August 26. The initial audience consisted of approximately 2 million users, a fraction of Revolut's total customer base, with a wider rollout across the European Economic Area expected later this year.

EURR is issued by Bridge Building S.A., a Luxembourg-regulated entity owned by Stripe-acquired Bridge. This means EURR operates under the EU's Markets in Crypto-Assets (MiCA) regulatory framework.